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Axiologix, Inc. Files Annual Report For Year Ending May 31, 2013; Revenues Grow By 482% Year On Year.
Axiologix, Inc. Files Annual Report For Year Ending May 31, 2013; Revenues Grow By 482% Year On Year..
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix, Inc. Files Annual Report For Year Ending May 31, 2013; Revenues Grow By 482% Year On Year.\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAxiologix, Inc. Files Annual Report For Year Ending May 31, 2013; Revenues Grow By 482% Year On Year.\n\nPR Newswire\n\nSARASOTA, Fla., Sept. 16, 2013\n\n\n\n\n\n\n\n \n\n \n\n\n\n\n\nSARASOTA, Fla., Sept. 16, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (Pinksheets:AXLX), an International Technology and Services Organization focused on delivering 'Cloud' Products and Services, today announced that it has recently filed unaudited results for the twelve months ended May 31, 2013, via the OTC Markets Disclosure & News Service.\n\n\n \n\n\n\n\nKey results of the unaudited results were:\n\n\n\n\n\n\nRevenues of $901,673 for the year ended May 2013 versus $187,139 revenues for the previous year. \n\n\n\nGross margins remained at 95% for the current year, same as the previous year. \n\n\n\nEBITDA for the current year was a loss of $580,116 versus a loss of $53,767 in 2012. \n\n\n\nNet loss for the year ending May 31, 2013 was $1,035,157, down slightly from $1,047,607 from the previous year. \n\n\n\nCash used in operations for the twelve months to May 31, 2013 was $88,455, versus cash generated from operations for the twelve months to May 31, 2012 of $61,166. \n\n\n\nCash decreased by $12,605 for the twelve months ended May 31, 2013. \n\n\n\nTotal assets increased by 56% while working capital deficit reduced by 77% and total debt reduced by 8% during the twelve months ending May 2013.\n\n\n\n\nFull details of the Company's Annual Report are accessible at http://www.otcmarkets.com/stock/AXLX/filings\n\n\n\n\nVincent Browne, Chairman and Chief Executive of Axiologix Inc. said, \"Our results for the financial year ended May 31, 2013 show solid progress in key areas of revenue growth, cash management and balance sheet development. Whereas the revenues were less than we forecasted for the full year they still came it at nearly five times the previous year, primarily due to the effect of rep...